According to report, Former President Olusegun Obasanjo has expressed concerns that influential groups profiting from Nigeria's fuel importation sector are undermining the Dangote Petroleum Refinery. This follows allegations by Alhaji Aliko Dangote, President of the Dangote Group, who accused certain 'mafias' of attempting to sabotage his $20 billion refinery project.
Despite President Bola Tinubu's directive for the Nigerian National Petroleum Company Limited (NNPC) to start purchasing crude oil in naira, the refinery has yet to begin such transactions.
Obasanjo suggested that the refinery's success could attract investment from both Nigerians and foreigners.
Officials of the Dangote Group have claimed that international oil companies are hampering the refinery by either refusing to sell crude or charging up to $4 above the standard price. They also accused the Nigerian Midstream and Downstream Regulatory Authority (NMDPRA) of issuing licenses for importing contaminated fuel, a claim the regulator denied.
NMDPRA Chief Executive Farouk Ahmed responded by saying Dangote diesel was inferior to imported ones and emphasized that Nigeria would not stop fuel importation to avoid a monopoly by the Dangote Group.
Obasanjo criticized Nigeria's over-reliance on oil, stating, "We put all our eggs in one basket of oil. We even ignored gas. We were flaring gas, which is a very important commodity. We ignored agriculture, which should have been the centerpiece of our economic development."
He recalled his efforts to persuade Shell to operate Nigeria's refineries, which the company refused due to excessive corruption in the sector. "When I was president, I invited Shell to come and take equity and run our refineries for us. They refused and said our refineries were not well maintained. We brought amateurs instead of professionals. Then there was too much corruption with the way our refineries were maintained. They didn't want to get involved in such a mess," he said.
Comments